Whitepaper: How failing to protect employees online is harming Australian businesses
Cybercrime is reported every 10 minutes in Australia.1 The borderless workplace is now increasing organisational vulnerabilities, with a ransomware attack predicted to start occurring every 11 seconds.2
The high risk of a cyberbreach is putting organisations under pressure to protect their employees online, particularly when working remotely. A rising number of cyberbreaches are caused by human error as bad actors specifically target remote workers.
A successful breach is costly to organisations in terms of financial loss, operational downtime, and reputational risk. Studies show that 29 per cent of businesses that faced a data breach ended up losing revenue and, of those businesses, 38 per cent lost at least one-fifth of their income.3
Cyberbreaches can also result in legal action and fines against a business for failing to protect personal data. Under Australia’s Notifiable Data Breaches Scheme, any organisation covered by the Privacy Act 1988 must notify individuals affected and the Office of the Australian Information Commissioner when a data breach can cause serious harm to an individual whose personal information is involved. Failure to report a breach contravenes the Privacy Act.
Even the smallest and often unknown security gap can provide an easy pathway for malicious actors to breach employee and organisational data. There are four key areas where Australian organisations are currently failing to protect employees online.
Find out the four key risks to organisations when it comes to protecting employees and business data
However, there are four simple and affordable measures that businesses can take to protect their company and employees online. These measures can help organisations build a strong cybersecurity culture and effective data governance that support cybersecurity resilience for both immediate and emerging risks.
Doing business online is an imperative in modern society and organisations already recognise the inherent risks of online interactions. Data is the new gold, and its value only increases as more of it enter the business. The more valuable data a business holds, the more likely that it will be a target for cyberattack.
Read the ‘How failing to protect employees online is harming Australian businesses’ whitepaper to learn more about the online security risks your organisation may face and how to best protect your employees and business assets.